Gold Prices Fall and Bullion Silver Eagle, Gold Eagle Coins Flat

Gold prices declined Thursday after a modest pick-up during the previous session. Losses were attributed to a stronger greenback and "risk off" investor attitude.

"The precious-metals complex is at a very critical juncture," Scott Gardner, the chief investment officer at Verdmont Capital SA in Panama City, said in a telephone interview recounted on Bloomberg. "Deflation concerns have come back to the forefront, and gold is selling off in sympathy with cyclical commodities."

Gold prices for August delivery lost $28, or 1.8%, to $1,550.40 an ounce on the Comex division of the New York Mercantile Exchange. Gold low and high prices for the day were $1,563.10 an ounce and $1,584.60 an ounce.

In other major New York futures precious metals prices, July silver prices lost 65.1 cents, or 2.4%, to $26.29 an ounce, October palladium prices declined $15.85, or 2.7%, to $563.90 an ounce and July platinum prices declined $24, or 1.7%, to $1,389.30 an ounce.

The following grid offers precious metals futures on a daily basis along with the most recent weekly changes.

New York Futures – Bullion Prices

Mon

Tue

Wed

Thurs

Weekly Change
($/%)

July Silver Prices

$27.52

$27.038

$26.94

$26.29

-$0.651
-2.4%

Aug. Gold Prices

$1,588.40

$1,574.90

$1,578.40

$1,550.40

-$28.00
-1.8%

July Platinum Prices

$1,439.40

$1,426.80

$1,409.70

$1,389.30

-$24.00
-1.7%

Sept. Palladium Prices

$607.25

$593.70

$579.75

$563.90

-$15.85
-2.7%

United States Mint Bullion Sales

After all-out gains for American Gold Eagle bullion coins on Wednesday, the United States Mint reported no increases for them, or any other of its bullion products, on Thursday. The latest United States Mint bullion coin sales totals are offered in the daily, June and 2012 sales columns below.

United States Mint 2012 Bullion Coin Sales

Mon

Tue

Wed

Thurs

June

2012 Sales

1 oz American Eagle Gold Coins

3,000

2,000

4,500

0

49,500

279,500

1/2 oz American Eagle Gold Coins

0

0

1,000

0

2,000

56,000

1/4 oz American Eagle Gold Coins

0

0

2,000

0

6,000

52,000

1/10 oz American Eagle Gold Coins

5,000

0

5,000

0

25,000

175,000

1 oz American Buffalo Gold Coins

1,000

0

1,500

0

10,000

75,000

5 oz America the Beautiful Silver Coin

3,400

0

0

0

3,500

21,500

1 oz American Eagle Silver Coin

493,000

25,000

0

0

2,593,000

17,127,000

Notes: The sales of bullion coins above are in numbers sold, not ounces sold.

The first article discusses Thursday’s release of the 2012-W $50 Uncirculated American Gold Eagle Coin for $1,828. The 1 oz. gold piece produced for numismatists looks nearly identical to the bullion Gold Eagle. A major difference is the "W" mint mark found on its obverse. Bullion coins have no mint mark to indicate where they were struck.

The second linked article provides an analysis of weekly silver product sales that are sold by the United States Mint.

London Bullion Prices

Earlier fixed London bullion prices also fell Thursday, but their losses were modest as compared to bullion futures in New York. The following grid provides London PM Fix daily bullion prices and latest changes for the week.

London Bullion Prices (PM Fixings)

Mon

Tue

Wed

Thurs

Weekly Change
($/%)

Silver Prices

$26.72

$27.440

$26.835

$26.81

-$0.025
-0.1%

Gold Prices

$1,570.00

$1,576.00

$1,573.50

$1,558.50

-$15.00
-1.0%

Platinum Prices

$1,434.00

$1,433.00

$1,408.00

$1,402.00

-$6.00
-0.4%

Palladium Prices

$606.00

$601.50

$579.00

$576.00

-$3.00
-0.5%

Refer to this site’s home page for always updated bullion prices and news.